Financial summary (Group)

Income statement NOKm 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
Interest income 3,780 3,315 3,416 4,822 3,470 2,376 1,916 1,596 2,249 2,707
Interest expenses  2,499 2,105 2,137 3,477 2,345 1,369 955 732 1,385 1,811
Net interest and credit comission income 1,281 1,210 1,279 1,345 1,125 1,008 961 864 864 896
Commision and fee income 919 855 756 610 671 580 537 443 332 282
Income from investment in related companies 290 249 349 393 233 190 119 23 -5 -168
Return on financial investements 298 240 293 -181 113 245 170 55 81 -23
Total income 2,789 2,555 2,677 2,167 2,142 2,022 1,787 1,385 1,273 987
Salaries, fees and other personnel costs 810 583 725 623 583 512 485 379 368 331
Other operating expenses 672 557 528 571 524 478 421 350 365 350
Total costs 1,482 1,140 1,253 1,194 1,107 990 906 729 733 681
Operating profit before losses 1,306 1,414 1,424 975 1,035 1,032 881 655 540 306
Losses on loans and guarantees 27 132 277 202 -6 -84 -38 81 229 229
Operating profit 1,279 1,282 1,147 773 1,041 1,116 919 574 311 77
Taxes 255 260 210 156 195 219 199 144 89 70
Profit of the year 1,024 1,022 937 617 846 898 720 430 222 7
                     
Dividend 190 285 201 116 324 303 278 152 109 46
                     
As a percentage of average total assets                    
Net interest and credit comission income 1.30 % 1.33 % 1.48 % 1.77 % 1.67 % 1.79 % 2.01 % 2.34 % 2.34 % 2.63 %
Commision and fee income 0.93 % 0.94 % 0.87 % 0.80 % 1.00 % 1.03 % 1.12 % 1.20 % 0.90 % 0.83 %
Income from investment in related companies 0.29 % 0.27 % 0.40 % 0.52 % 0.35 % 0.34 % 0.25 % 0.06 % -0.01 % -0.49 %
Return on financial investements 0.30 % 0.27 % 0.34 % -0.24 % 0.17 % 0.43 % 0.36 % 0.15 % 0.22 % -0.07 %
Total costs 1.51 % 1.25 % 1.45 % 1.57 % 1.64 % 1.76 % 1.90 % 1.97 % 1.99 % 1.99 %
Operating profit before losses 1.33 % 1.55 % 1.64 % 1.29 % 1.55 % 1.83 % 1.84 % 1.77 % 1.46 % 0.90 %
Losses on loans and guarantees 0.03 % 0.15 % 0.32 % 0.27 % -0.01 % -0.15 % -0.08 % 0.22 % 0.62 % 0.67 %
Operating profit 1.30 % 1.40 % 1.32 % 1.02 % 1.56 % 1.98 % 1.92 % 1.55 % 0.84 % 0.23 %
Taxes 0.26 % 0.28 % 0.24 % 0.21 % 0.30 % 0.39 % 0.42 % 0.39 % 0.24 % 0.21 %
Profit of the year 1.04 % 1.12 % 1.08 % 0.81 % 1.26 % 1.59 % 1.51 % 1.16 % 0.60 % 0.02 %
                     
Balance sheet NOKm                    
Cash and loans to and claims on credit institutions 4,075 2,532 1,260 4,548 3,878 2,323 2,123 1,541 1,417 2,033
CDs, bonds and other interest-bearing securities 21,485 22,949 19,302 12,035 7,246 5,602 4,133 2,566 2,481 2,342
Loans before loss provisions 73,105 69,847 61,782 64,016 59,178 52,819 45,280 34,226 32,553 31,089
 - Specified loan loss provisions 172 222 219 215 116 147 236 290 380 531
 - Unspecified loan loss provisions 290 290 289 245 185 184 278 314 318 364
Other assets 3,251 3,177 2,704 4,540 1,502 2,765 3,304 775 1,123 1,422
Total assets 101,455 97,992 84,541 84,679 71,503 63,178 54,327 38,505 36,876 35,991
                     
Debt to credit institutions 6,232 8,743 11,310 9,000 5,346 2,766 1,029 48 1,114 2,131
Deposits from and debt to customers 47,871 42,786 37,227 35,280 32,434 30,136 27,048 20,725 19,876 19,049
Debt created by issuance of securities 34,192 33,943 24,070 29,680 23,950 21,911 18,036 13,048 11,361 10,778
Other debt and accrued expences etc. 2,122 1,917 1,876 2,045 2,265 1,799 2,876 822 769 863
Subordinated debt 2,690 2,758 3,875 3.156 2,648 2,383 1,667 1,347 1,560 1.064
Total equity 8,348 7,846 6,183 5,518 4,860 4,183 3,671 2,515 2,196 2.106
Total liabilities and equity 101,455 97,992 84,541 84,679 71,503 63,178 54,327 38,505 36,876 35.991
                     
Key figures                    
Total assets 101,455 97,992 84,541 84,679 71,503 63,178 54,327 38,505 36,876 35,991
Average total assets 98,465 91,317 86,679 75,820 67,202 56,434 47,753 36,965 36,862 34,140
Gross loans to customers  73,105 69,847 61,782 64,016 59,178 52,819 45,280 34,226 32,553 31,089
Gross loans to customers incl. SpareBank 1 Boligkreditt 95,232 87,665 77,429 71,317 61,910 52,819 45,280 34,226 32,553 31,089
Gross loans in retail market 55,034 49,619 45,157 42,679 38,872 33,808 29,032 21,491 20,008 17,961
Gross loans in corporate market 40,198 38,046 32,272 28,638 23,038 19,011 16,248 12,735 12,545 13,128
Deposits from and debt to customers 47,871 42,786 37,227 35,280 32,434 30,136 27,048 20,725 19,876 19,049
Deposits from retail market 20,860 19,052 17,898 17,566 16,070 15,408 14,080 11,256 11,252 10,981
Deposits from corporate market 27,011 23,734 19,330 17,715 16,363 13,967 12,968 9,469 8,624 8,068
Ordinary lending financed by ordinary deposits 65 % 61 % 60 % 55 % 55 % 57 % 60 % 61 % 61 % 61 %
                     
Core capital 7,856 7,286 6,730 4,967 4,019 3,614 3,073 2,773 2,474 2,049
Primary capital 9,055 8,646 8,730 7,312 5,762 5,229 3,808 3,239 3,407 2,802
Risk weighted volume 75,337 66,688 64,400 61,538 47,775 40,473 34,873 25,562 24,483 25,223
Minimum requirements subordinated capital 6,027 5,335 5,152 4,923 3,822          
Capital ratio 12.02 % 12.97 % 13.56 % 11.88 % 12.06 % 11.88 % 10.92 % 12.67 % 13.92 % 11.11 %
Of which core capital ratio 10.43 % 10.93 % 10.45 % 8.07 % 8.41 % 8.64 % 8.81 % 10.85 % 10.10 % 8.12 %
                     
Cost/income ratio 53 % 45 % 47 % 55 % 52 % 49 % 51 % 53 % 58 % 69 %
Losses on loans 0.03 % 0.16 % 0.4 % 0.3 % 0.0 % -0.2 % -0.1 % 0.2 % 0.7 % 0.7 %
ROE 12.8 % 14.6 % 16.2 % 11.9 % 18.9 % 23.7 % 23.3 % 20.0 % 10.2 % 0.4 %
                     
EC price (NOK) 39.30 54.00 49.02 22.85 54.65 61.65 59.19 41.60 29.05 17.55
Growth in lending (gross) 8.6 % 13.2 % 8.6 % 15.2 % 17.2 % 16.6 % 32.3 % 5.1 % 4.7 % 6.2 %
Growth in deposits 11.9 % 14.9 % 5.5 % 8.8 % 7.6 % 11.4 % 30.5 % 4.3 % 4.3 % 6.6 %

Net profit and return on equity

Net profit and return on equity

Net interest income

 

Net interest income

Operating expenses

 

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Capital ratio

 

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Loans and deposits

 

Loans and deposits

Person-years worked

 

Person-years worked

 

 

 

Financial results

Annual report and notes

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